PULLMAN Speaking to a meeting of the WSU Board of Regents this morning, WSU President Elson S. Floyd requested a voluntary pay cut of $100,000 in response to the looming budget problems facing the state and the university.
“These are exceedingly tough times for my students, faculty and staff. We will be asking them to think more creatively and work harder with less as we deal with budgetary restraints. It is incumbent upon me to lead by example,” Floyd said.
The WSU Board accepted Floyd’s request. His salary will be reduced from $725,000 to $625,000 on Jan. 1.
“The WSU Board of Regents reluctantly granted Dr. Floyd’s request for a very significant salary reduction. We set the president’s salary at a level that we firmly believe reflects his experience and his extraordinary performance and leadership. This action on his part only reinforces our belief that he is the right person at the helm to lead WSU through the challenging times ahead,” said Francois X. Forgette, chair of the Board of Regents.
In August, the regents approved a salary increase for Floyd from $600,000 to $725,000, retroactive to May, citing the university’s progress in academic programs, enrollment and fundraising.
The voluntary pay cut is in addition to a planned scholarship that Floyd and his wife Carmento will endow. He made that announcement in his October State of the University address.
This week, WSU and other colleges and universities in the state were notified by the state Office of Financial Management to prepare for a budget cut in the upcoming biennium of up to 20 percent. The university is currently making reductions for this fiscal year to meet a state mandate to return $6 million in already allocated funds to the state on June 30.
